Global Electroceuticals Bioelectric Medicine Market

Electroceuticals Bioelectric Medicine Market Size, Share, Growth Analysis, By Product(Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Spinal Cord Stimulators, Cochlear Implants), By Type(Implantable, Non-Invasive Electroceutical Devices), By Region - Industry Forecast 2024-2031


Report ID: SQSG35I2031 | Region: Global | Published Date: July, 2036
Pages: 165 |Tables: 68 |Figures: 75

Electroceuticals Bioelectric Medicine Market Insights

Electroceuticals Bioelectric Medicine Market size was valued at USD 20.1 billion in 2019 and is poised to grow from USD 21.7 billion in 2023 to USD 33.9 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Major market drivers include the rising prevalence of chronic and acute illnesses, rising geriatric population, product improvements, and activities by important firms and organisations. The Alliance for Advancing Bioelectronic Medicine introduced the first Bioelectronic Medicine Day in January 2022, which included a public health campaign. The effort and developments in the area of bioelectronic medicine were supported by the campaign.

By combining bioengineering, molecular medicine, and neurology, electroceutical bioelectric medicine creates nerve-stimulating devices for the control of biological processes during disease treatment. The main factor projected to drive the market is the increased prevalence of chronic diseases like cardiac and neurological problems. According to the CDC, over 610 thousand Americans per year pass away from cardiac problems. About 370 of them pass away from coronary heart disease (CHDs). Due to the increased need for sophisticated bioelectric medicine to treat various chronic diseases, the market is anticipated to rise quickly.

Cardiovascular Diseases (CVDs) are a significant cause of death in the U.S., according to the CDC study from 2017. It's probable that CVDs are to blame for one-fourth of all fatalities. More than 80% of all CVD-related deaths are caused by stroke and IHD. In addition, by 2031, the economic cost of CVDs is projected to be over USD 1,044 billion. Other significant drivers of market expansion are manufacturers' rising R&D expenditures and the rate at which novel electroceuticals and bioelectric medications are receiving regulatory approvals. For instance, the InterStim System and InterStim Smart Programmer were employed in December 2018 to administer sacral neuromodulation therapy. Sacral neuromodulation was invented by Medtronic, and this product improvement was meant to help the business increase its market share.

Government restrictions on the design and production of medical devices, such as cardiac pacemakers, implantable cardioverter defibrillators, and neuromodulation devices, may limit the market's expansion. Prior to a PMA (premarket approval), the devices must pass stringent clinical trials, which significantly raises the producers' expenses. Additionally, product recalls are a significant problem for producers and may have a negative impact on the expansion of the industry.

US Electroceuticals Bioelectric Medicine Market  is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 20.1 billion

Largest Segment

Non-Invasive Electroceutical Devices

Fastest Growth

Non-Invasive Electroceutical Devices

Growth Rate

5.8% CAGR

Global Electroceuticals Bioelectric Medicine Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)

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Electroceuticals Bioelectric Medicine Market Segmental Analysis

The global Electroceuticals Bioelectric Medicine Market segmentation is based on product, type, and region. Based on product the Electroceuticals Bioelectric Medicine Market is segmented into implantable cardioverter defibrillators, cardiac pacemakers, spinal cord stimulators, cochlear implants, deep brain stimulators, transcutaneous electrical nerve stimulators, vagus nerve stimulators, sacral nerve stimulators, and retinal implants. Based on type the Electroceuticals Bioelectric Medicine Market is segmented into implantable and non-invasive electroceutical devices. Based on region the global electroceuticals bioelectric medicine market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

Electroceuticals Bioelectric Medicine Market Analysis by Product

Over the forecast period, it is anticipated that the implanted cardioverter defibrillators segment would have strong revenue growth. The demand for implantable cardiovascular defibrillators is rising due to the aging population and greater risk of cardiac arrest. Additionally, the main cause of mortality worldwide each year is cardiovascular disease. In underdeveloped nations, it is more common.

Due to the rising prevalence of Parkinson's disease and lifestyle-related illnesses such as obesity and depression, the deep brain stimulator market is anticipated to develop profitably throughout the forecast period.

A significant portion of the revenue in 2021 came from the category of sacral nerve stimulators, thanks to corporate product introductions and advancements.

Electroceuticals Bioelectric Medicine Market Analysis by Type

Due to factors such as the increased prevalence of cardiovascular and neurological illnesses, the introduction of novel goods, and increasing product approvals, implantable electroceutical devices accounted for a substantially bigger market share in 2021. Manufacturers are concentrating on releasing cutting-edge items to meet unmet consumer wants.

The segment for non-invasive electroceutical devices is anticipated to develop at the fastest rate over the research period. This is a result of technical improvement and increased business R&D spending on new product development.

Global Electroceuticals Bioelectric Medicine Market Share By Type, 2021 (%), 2023 (%)

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Electroceuticals Bioelectric Medicine Market Regional Insights

In the global market for electroceuticals bioelectric medicines in 2021, North America outpaced other regional markets. The rising incidence of neurological and chronic diseases, the rising demand for electroceuticals and bioelectric medicines to treat a variety of disorders, the presence of major players, and the region's highly advanced healthcare infrastructure and facilities are the main drivers of market growth in this area.

Due to its large patient pool, growing elderly population, increasing use of bioelectric medications, and rising R&D expenditures, the Asia Pacific market is anticipated to see the largest revenue CAGR between 2022 and 2028. The market is also growing as a result of improved healthcare systems and greater healthcare awareness.

The extensive healthcare infrastructure in Europe, the high demand for cutting-edge medical treatments, and the presence of numerous healthcare giants in Germany, the UK, Switzerland, and France all present promising growth prospects.

Global Electroceuticals Bioelectric Medicine Market By Geography, 2021 - 2028, 2024-2031
  • Largest
  • Fastest

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Electroceuticals Bioelectric Medicine Market Dynamics

Electroceuticals Bioelectric Medicine Market Driver

  • The risk of neurologic or cardiovascular problems is higher in the senior population. Geriatrics are a significant portion of the entire patient population due to their increased vulnerability to these illnesses. To treat cardiovascular and neurological problems, the rise of this demographic segment will guarantee a sustained and increased need for electroceutical devices including cardiac pacemakers, implantable cardioverter defibrillators, deep brain stimulators, and spinal cord stimulators.
  • Major market participants have significant growth prospects in emerging economies like South Korea, Malaysia, Vietnam, South Korea, Africa, Israel, Saudi Arabia, and the United Arab Emirates. This is due to factors such as their lax regulatory requirements, improved healthcare facilities, expanding patient populations, and rising healthcare costs. Additionally, compared to industrialized nations, the regulatory regulations in the Asia-Pacific area are more flexible and business-friendly. This has led important companies in the electroceuticals/bioelectric medicine market to concentrate on rising nations along with the escalating competition in mature markets.

Electroceuticals Bioelectric Medicine Market Restraint

  • One of the main factors limiting market growth is the high cost of electroceutical devices like cochlear implants and neurostimulators, especially in price-sensitive countries like the Asia Pacific, Latin America, and Africa. Healthcare providers generally lack the financial resources to invest in sophisticated technologies, particularly in developing nations like Brazil and Mexico. Additionally, the crew needs to receive intensive training in the proper use and upkeep of electroceutical devices. Accordingly, considerable R&D efforts are necessary to create technologically cutting-edge electroceutical products, such as cochlear implants. The cost of manufacturing is significantly raised as a result.
  • Neurosurgeons who specialize in neural implant procedures and have completed a functional neurosurgery fellowship are required to provide direction for the implantation of electroceutical devices such as neurostimulators in the appropriate body part. There is now a considerable shortage of neurologists available worldwide. The number of neurosurgery procedures performed annually and, consequently, the market demand for electroceutical devices like neurostimulators, are predicted to be negatively impacted by the shortage of skilled personnel, including neuro physicians and neurosurgeons, in significant regions around the world.

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Electroceuticals Bioelectric Medicine Market Competitive Landscape

Due to the sheer number of manufacturers, the market is very fragmented. Major producers offer a wide selection of cutting-edge electroceuticals through their effective global distribution networks. It has sparked fierce competition between manufacturers and put great pressure on vendors' pricing tactics, both of which are projected to have an impact on the profit margin. The leading companies in this industry are also well-known, established, and have a lot of brand loyalty. Newcomers must therefore compete with established competitors and differentiate themselves by creating novel product offerings. For instance, the Platform with Differential Target Multiplexed (DTM) programming from Medtronic plc (IrelandIntellis) was approved by the US FDA in March 2021 to treat chronic, unrelieved back and leg pain.

Electroceuticals Bioelectric Medicine Market Top Players Company Profiles

  • Abbott Laboratories, Inc.
  • BioElectronics Corporation
  • Boston Scientific Corporation
  • electroCore LLC
  • GlaxoSmithKline plc
  • LivaNova PLC
  • Medtronic plc
  • Nevro Corp.
  • Nexeon MedSystems, Inc.
  • NeuroMetrix, Inc.
  • Neuromod Devices Limited
  • NeuroPace, Inc.
  • Second Sight Medical Products, Inc.
  • SetPoint Medical Corporation
  • Soterix Medical Inc.
  • SPR Therapeutics, Inc.
  • Stimwave Technologies Incorporated
  • St. Jude Medical, Inc.
  • Synapse Biomedical, Inc.
  • Zynex Medical Inc.

Electroceuticals Bioelectric Medicine Market Recent Development

  • In January 2022, the first Bioelectronic Medicine Day, which included a health awareness campaign, was introduced by the Alliance for Advancing Bioelectronic Medicine. The campaign backed initiatives and developments in the area of bioelectronic medicine.
  • In July 2021, Graphene-based bioelectronic vagus nerve therapies for severe chronic disorders are being developed by Innervia Bioelectronics in collaboration with Merck KGaA, Darmstadt, Germany (Merck). The collaboration will use the knowledge of both businesses to develop treatments for illnesses with unmet medical needs that fall under Merck's purview of therapeutic spheres.
  • In February 2021, the first clinic patients have been treated with the CellFX System, according to Pulse Biosciences, Inc., a cutting-edge bioelectric medicine business advancing Nano-Pulse Stimulation (NPS) technology. The CellFX System's initial commercial application heralds the start of the company's controlled launch campaign with product shipments to esteemed dermatology authorities in the US and Europe.

Electroceuticals Bioelectric Medicine Key Market Trends

  • Defibrillators and pacemakers, for example, are broadly accepted by the public, which is helping the industry grow. Segment expansion is also fueled by expanding technology advancements and product approvals. For instance, Abbott Laboratories' Gallant line, which includes an implantable cardioverter-defibrillator and a cardiac resynchronization therapy defibrillator with Bluetooth technology, has gotten approval from the US Food and Drug Administration. Modern pacemaker features including data recording capabilities, safe magnetic resonance imaging (MRI) devices, and remote data tracking devices promote segment growth.

Electroceuticals Bioelectric Medicine Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, the segment for implanted cardioverter defibrillators is expected to experience a significant revenue increase during the forecast period. In 2021, implantable electroceutical devices held a significantly larger market share. North America will lead other regional markets in the worldwide electroceuticals bioelectric medicine market in 2021. The biggest revenue CAGR is predicted to occur in the Asia Pacific market between 2022 and 2028.

Report Metric Details
Market size value in 2023 USD 20.1 billion
Market size value in 2031 USD 33.9 billion
Growth Rate 5.8%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Implantable Cardioverter Defibrillators, Cardiac Pacemakers, Spinal Cord Stimulators, Cochlear Implants, Deep Brain Stimulators, Transcutaneous Electrical Nerve Stimulators, Vagus Nerve Stimulators, Sacral Nerve Stimulators, Retinal Implants
  • Type
    • Implantable, Non-Invasive Electroceutical Devices
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Abbott Laboratories, Inc.
  • BioElectronics Corporation
  • Boston Scientific Corporation
  • electroCore LLC
  • GlaxoSmithKline plc
  • LivaNova PLC
  • Medtronic plc
  • Nevro Corp.
  • Nexeon MedSystems, Inc.
  • NeuroMetrix, Inc.
  • Neuromod Devices Limited
  • NeuroPace, Inc.
  • Second Sight Medical Products, Inc.
  • SetPoint Medical Corporation
  • Soterix Medical Inc.
  • SPR Therapeutics, Inc.
  • Stimwave Technologies Incorporated
  • St. Jude Medical, Inc.
  • Synapse Biomedical, Inc.
  • Zynex Medical Inc.
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Historical Year 2019

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Electroceuticals Bioelectric Medicine Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Electroceuticals Bioelectric Medicine Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Electroceuticals Bioelectric Medicine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Electroceuticals Bioelectric Medicine Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Electroceuticals Bioelectric Medicine Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Electroceuticals Bioelectric Medicine Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Electroceuticals Bioelectric Medicine Market size was valued at USD 20.1 billion in 2019 and is poised to grow from USD 21.7 billion in 2023 to USD 33.9 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

Due to the sheer number of manufacturers, the market is very fragmented. Major producers offer a wide selection of cutting-edge electroceuticals through their effective distribution networks. It has sparked fierce competition between manufacturers and put great pressure on vendors' pricing tactics, both of which are projected to have an impact on the profit margin. The leading companies in this industry are also well-known, established, and have a lot of brand loyalty. Newcomers must therefore compete with established competitors and differentiate themselves by creating novel product offerings. For instance, the Platform with Differential Target Multiplexed (DTM) programming from Medtronic plc (IrelandIntellis) was approved by the US FDA in March 2021 to treat chronic, unrelieved back and leg pain. 'Abbott Laboratories, Inc.', 'BioElectronics Corporation', 'Boston Scientific Corporation ', 'electroCore LLC', 'GlaxoSmithKline plc', 'LivaNova PLC', 'Medtronic plc ', 'Nevro Corp.', 'Nexeon MedSystems, Inc.', 'NeuroMetrix, Inc.', 'Neuromod Devices Limited', 'NeuroPace, Inc.', 'Second Sight Medical Products, Inc.', 'SetPoint Medical Corporation', 'Soterix Medical Inc.', 'SPR Therapeutics, Inc.', 'Stimwave Technologies Incorporated', 'St. Jude Medical, Inc.', 'Synapse Biomedical, Inc.', 'Zynex Medical Inc.'

The risk of neurologic or cardiovascular problems is higher in the senior population. Geriatrics are a significant portion of the entire patient population due to their increased vulnerability to these illnesses. To treat cardiovascular and neurological problems, the rise of this demographic segment will guarantee a sustained and increased need for electroceutical devices including cardiac pacemakers, implantable cardioverter defibrillators, deep brain stimulators, and spinal cord stimulators.

Defibrillators and pacemakers, for example, are broadly accepted by the public, which is helping the industry grow. Segment expansion is also fueled by expanding technology advancements and product approvals. For instance, Abbott Laboratories' Gallant line, which includes an implantable cardioverter-defibrillator and a cardiac resynchronization therapy defibrillator with Bluetooth technology, has gotten approval from the US Food and Drug Administration. Modern pacemaker features including data recording capabilities, safe magnetic resonance imaging (MRI) devices, and remote data tracking devices promote segment growth.

In the market for electroceuticals bioelectric medicines in 2021, North America outpaced other regional markets. The rising incidence of neurological and chronic diseases, the rising demand for electroceuticals and bioelectric medicines to treat a variety of disorders, the presence of major players, and the region's highly advanced healthcare infrastructure and facilities are the main drivers of market growth in this area.

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